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Cross-border lending in Asia Pacific continues to grow steadily despite external factors such as COVID-19. While the region is not immune to external factors, borrowing volumes for financial institutions, credit funds and other market participants remain high in Asia Pacific. Considering the demographics of many of the nations, the various financial centers and many market participants investing more substantially in some of those financial centers, we remain optimistic that lending activity across Asia Pacific will continue to grow.

The Asia Pacific Guide to Lending and Taking Security contains questions and answers that are important to lenders in the region, such as:

  • What should you do when considering whether to lend?
  • Are there any post-COVID forbearance laws and regulations in your country that may impact the general lending activities?
  • What are the restrictions when lending to borrowers?
  • What is the insolvency regime in your country?
  • Are there any particular difficulties or delays in enforcing security?
  • Is it possible for documents to be executed electronically under the laws of your country?
  • Are there restrictions that may prevent parties from executing a finance transaction electronically?

The guide covers 14 jurisdictions in the region: Australia, Cambodia, the People’s Republic of China, Hong Kong, India, Indonesia, Japan, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Taiwan and Vietnam.

This guide is a result of combined efforts from lawyers across major cities and financial centers in Asia Pacific. We will be happy to provide more details of the rules and practice in any jurisdiction.

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NOTE: The content of this guide is current as of 3 September 2021; the high-level guidance in this document is not intended to be comprehensive legal advice.

Author

John is Chair of the Australian offices and has been a partner at Baker McKenzie for almost 20 years, and head of the tax group for most of that time. John has held a variety of global, regional and local management roles and is currently a member of the firm’s Management Committee. John is widely recognised as one of Australian leading tax lawyers, including in various editions of the Australian Financial Review’s Best Lawyers, Chambers Asia Pacific, APL 500, Euromoney's International Tax Review's World Tax and the Tax Directors Handbook and was last year’s Lawyers Weekly Tax Lawyer of the Year. He writes and teaches broadly, and is currently a lecturer in the Sydney University LLM program and a writer for Thompson’s loose leaf income tax service and the author of BNA Buchanan Ingersoll PC’s Tax Management: Business Operations in Australia. He is also the head of the Firm's Structured Assets group in Australia, which incorporates the Tax, Financial Services, Commercial Real Estate and Hotels, Resorts & Tourism groups.

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Ellen joined Baker McKenzie in 2014 and is a senior associate in the Banking & Finance Practice Group. Ellen has acted for borrowers, sponsors and leading financial institutions on a wide range of banking and finance transactions. Ellen has also worked across the Melbourne and Singapore offices of Baker McKenzie.

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Viroj Piyawattanametha is a partner in the Firm's Bangkok office. He joined Baker McKenzie in 2000 after several years of practice with another law firm, and became a partner in 2006. He has extensive experience in matters related to project financing, debt and equity capital markets, and major projects.

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Ms. Cheung is a partner in the dispute resolution practice at Baker McKenzie in Hong Kong, focusing on company insolvency and commercial litigation.

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Dawn Ho is a local principal in the Finance & Projects Practice Group of Baker McKenzie Wong & Leow. Prior to joining the Finance & Projects team, Dawn was a disputes lawyer and has experience as a litigator. She was also involved in international arbitration disputes and construction disputes.

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Emmanuel is a senior dispute resolution lawyer with expertise acting for multinational clients in complex, cross-border disputes and situations across Asia. He has recently been recognised by Asian Legal Business as one of Asia's Super 50 Disputes Lawyers. Emmanuel acts in, coordinates and manages international arbitration and litigation processes across Asia, and regularly appears as lead counsel in these proceedings. He has particular expertise in distress situations, financial restructurings and formal insolvency processes (including schemes of arrangement, judicial management and liquidation), and has been featured on business media (including Bloomberg and The Business Times) for his perspectives in the space. Emmanuel previously co-led the international disputes function in a US oil & gas supermajor, where he managed litigation and situations across Asia, Middle East, Europe and Africa.

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Yuko Watanabe is a member of the Banking & Finance group in the Firm's Tokyo office.

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Shinichiro Kitamura is the head of Baker McKenzie's Finance & Projects group in Tokyo. He has over 20 years of legal experience, including being seconded to the legal departments of two foreign financial institutions in London and Tokyo. Shinichiro is listed as a Leading Lawyer for Banking and Finance: Domestic, Japan in Chambers and Partners Asia Pacific 2021 and a Leading Individual for Banking and Finance in The Legal 500.

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Justin C. Liang is a member of the Firm's Banking & Finance and Securities practice groups. He regularly speaks at conferences on project financing, securities, bank lending and other extensions of credit matters. He also contributes articles to various publications on issues related to his area of practice. Mr. Liang earned his LL.B. from the National Taiwan University and received his LL.M. from the Graduate Law School of Soochow University. He is admitted to practice law in ROC courts.

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Ruth F. Melicor is a junior associate in Quisumbing Torres. She works with various practice groups in the firm, including Corporate & Commercial/M&A, Dispute Resolution and Employment. Ruth graduated with honors (cum laude and Dean's Medalist) from the University of the Philippines in 2019 and newly admitted to the Philippine Bar in 2020.

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Allen Ng is a partner in Baker McKenzie's Hong Kong office and a member of the Firm’s Banking & Finance Practice Group. His practice focuses on aircraft leasing and financing transactions and general banking matters, including bilateral and syndicated loan transactions in Hong Kong and China.

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Lene Someno is a member of the Banking & Finance Group at Baker McKenzie’s Tokyo office.

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Evangeline works on local and trans-jurisdictional case matters involving banking and finance, capital markets, general corporate affairs and mergers and acquisitions. She has considerable experience in assisting and representing clients in banking and finance matters, including syndicated credit facilities, trade finance, acquisition finance, project finance, structured finance, aircraft and assets finance, and real estate finance.

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Terry Xu is associate in Baker McKenzie Shanghai office.

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Andre Gan is the Managing Partner of Baker McKenzie's Yangon office. He is also Managing Partner of Wong & Partners in Malaysia, a member firm of Baker McKenzie.

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Howard Fraser practices mainly in the areas of corporate banking and finance, infrastructure and resources project finance, as well as leveraged finance. Howard works closely with the Firm's Private Equity and Infrastructure teams.

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Indri Pramitaswari “Mita” Guritno is a partner in Hadiputranto, Hadinoto & Partners in Jakarta who has been advising on banking and finance transactions for more than twenty years. She has extensive experience in debt restructuring (acting both for borrowers and creditors) and structured finance.

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Emmanuel Hadjidakis is a principal in Baker McKenzie Wong & Leow's Finance & Projects Team. He is currently the Global Head of Acquisition Finance at the Firm. Emmanuel has worked in Singapore for over 15 years and has prior experience working in London and Sydney. IFLR1000 describes him as "top-tier, and absolutely up there with the best" and points out, "Lenders consider [him] a rising star in the Singapore market and rate him as one of its leading practitioners."

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Mark Lim heads the Finance & Projects Practice Group of Wong & Partners. He has been hailed for his work in Islamic finance, debt capital markets, loans and regulatory work by established legal directories including Chambers Asia Pacific, IFLR1000 and Asia Pacific Legal 500. Mr. Lim was named a leading lawyer for capital markets, banking and project finance by IFLR1000 from 2011 to 2016. Asia Pacific Legal 500 has ranked him as a Leading Lawyer for banking and finance from 2011 to 2016. According to Chambers Asia Pacific, clients commend him for being "very responsive and commercially minded" and "very sound - someone who you want on your side in negotiations." Mr. Lim is one of the Malaysian External Counsel of Year, as voted by the In House Community of Asian MENA Counsel in 2013 and 2016.

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Andrew Lockhart heads the Banking and Finance Practice Group in Hong Kong. He is regularly named in the Euromoney Legal Group’s Guide to the World’s Leading Aviation Lawyers and Who’s Who Legal: Aviation Lawyers, and is ranked among the highly recommended lawyers by PLC Which lawyer? and Chambers Global in the field of banking and finance. Andrew is also top-ranked by Chambers Asia Pacific in the area of aircraft finance and by Legal 500 Asia Pacific in the areas of banking and finance and asset finance. He has also been named a leading lawyer for banking and finance by IFLR 1000.

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Amrit MacIntyre is a partner in the Sydney office of Baker McKenzie where he focuses on taxation planning and advisory work. He is one of Australia's most prominent tax lawyers and is a member of the Australian Taxation Office Public Rulings Panel and chairperson of Office of State Revenue/Taxation Institute of Australia Liaison Committee. Amrit is recognised as a leading practitioner in Asia Pacific Legal 500, Chambers Asia Pacific, International Tax Review's World Tax, International Tax Review's Indirect Tax Leaders Guide, International Tax Review's Tax Controversy Leaders Guide, PLC Which Lawyer?, Tax Directors Handbook, Who's Who Legal Corporate Tax and The Australian Financial Review's Best Lawyers in Australia.

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Frank Meier is a special counsel in Baker McKenzie's Hong Kong office and a member of the Firm's Banking & Finance Practice Group.

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Kristina R. Navarro is an associate in Quisumbing Torres' Banking and Finance Practice Group and a member of the Financial Institutions Industry Group and Fintech Focus Group. She has three years experience in financial regulations, fintech, acquisition finance, and loans and credit facilities.

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Oanh Nguyen is partner in Baker & McKenzie´s Ho Chi Minh City office. She has been advising on various aspects of corporate and commercial law for more than 17 years. She has been rated by Chambers Asia as a leading lawyer in Banking & Finance and Projects, Infrastructure & Energy. IFLR 1000 has listed her as a leading lawyer in the areas of Banking & Project Finance and Mergers and Acquisitions. PLC Which Lawyer? has also recommended her for Finance in Vietnam. Ms. Nguyen serves as editor of the monthly Banking and Finance Letter, and has delivered several presentations on foreign investments and M&A in Vietnam.

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Dawn Quek is a leading tax and private client lawyer in Singapore with many years of experience in corporate tax and international tax planning. She is the Head of the Wealth Management practice in Singapore and is the Asia Pacific representative on the Firm's Global Wealth Management Steering Committee. Dawn is consistently ranked as a leading tax and private client/wealth lawyer by various legal publications including Chambers High Net Worth (HNW) Guide, International Tax Review Women in Tax Leaders Guide and the Legal 500 Asia Pacific. She was named "Private Client Lawyer of the Year" at the 2018 Asia Legal Awards by The Asian Lawyer, and named "Women in Wealth Management" at the 2018 WealthBriefingAsia Awards. Dawn is a key player in the local wealth management and financial services scene. She frequently participates in formal and informal consultations with government authorities on law reform on issues relating to the wealth management and financial services industry from a tax and legal perspective. She has also co-written articles on international tax planning issues in various tax and legal journals published by CCH and BNA. In addition, Dawn has been quoted extensively in publications such as the New York Times, the International Herald Tribune, Reuters, the Financial Times, the Straits Times, the Business Times and Asian Private Banker on issues and developments affecting the wealth management industry in Singapore.

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Kenneth is a partner in Baker McKenzie Limited’s Mergers & Acquisition Practice Group in Yangon. He joins Baker McKenzie following a six-year stint with SGX-listed and Myanmar-based Yoma Strategic Holdings Ltd. (Yoma), where he was most recently the managing counsel of group legal leading a 20-member legal and corporate secretarial team that supported corporate functions and business operations across the group's various segments, including in real estate, automotive, agriculture, healthcare, tourism and consumer products.

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Steven Sieker practices exclusively in the area of tax law, and is recognized as a leading individual in tax as well as private client and wealth management by Chambers Asia Pacific, Citywealth Leaders List and Guide to the World’s leading Tax Advisers. He has authored a wide range of key articles and publications, including the Hong Kong volume of the CCH series Tax Planning and Compliance in Asia. He is a member of the Society of Trust and Estate Practitioners (STEP), and was an executive director of STEP and the Canadian Chamber of Commerce in Hong Kong. Steven is admitted as a solicitor in Hong Kong, England and Wales (non-practising), and is qualified as a barrister and solicitor in Alberta, Canada.

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Alain Charles Veloso is a partner in Quisumbing Torres’ Corporate & Commercial Practice Group. He has 11 years of legal practice, advising several investment banks, funds, and multinational corporations with regard to their transactions in the Philippines, including private and public M&A transactions, debt, and equity capital markets transactions, and structuring and establishment of their Philippine presence, as applicable.

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Thai Ninh (Daniel) Ngo is an associate in Baker McKenzie Hanoi office.

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